Meta Platforms, Inc. $META Stock Bought by First Interstate Bank

Key Points

• First Interstate Bank increased its Meta stake by 61.6% in the third quarter, bringing its holdings to 12,373 shares valued at approximately $8.97 million. Institutional investors and hedge funds collectively own 79.91% of Meta’s stock.
• Meta reported quarterly earnings of $7.40 per share, beating estimates of $6.54, while revenue rose 26.1% year over year to $64.6 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $833.12.
• Meta insiders sold roughly 150,015 shares worth $102.5 million over the past quarter, while the company continues to benefit from strong advertising trends and an expanded artificial-intelligence partnership with AMD.

First Interstate Bank raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 61.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,373 shares of the social networking company's stock after purchasing an additional 4,718 shares during the quarter. Meta Platforms accounts for 0.5% of First Interstate Bank's investment portfolio, making the stock its 29th biggest holding. First Interstate Bank's holdings in Meta Platforms were worth $8,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Kingswood Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 2.8% in the third quarter. Kingswood Wealth Advisors LLC now owns 28,653 shares of the social networking company's stock valued at $20,779,000 after acquiring an additional 776 shares in the last quarter. Bright Futures Wealth Management LLC. raised its stake in shares of Meta Platforms by 1.6% during the 3rd quarter. Bright Futures Wealth Management LLC. now owns 1,529 shares of the social networking company's stock worth $1,109,000 after buying an additional 24 shares in the last quarter. IRON Financial LLC raised its stake in shares of Meta Platforms by 45.2% during the 3rd quarter. IRON Financial LLC now owns 3,089 shares of the social networking company's stock worth $2,240,000 after buying an additional 962 shares in the last quarter. Straight Path Wealth Management lifted its holdings in shares of Meta Platforms by 30.1% in the 3rd quarter. Straight Path Wealth Management now owns 665 shares of the social networking company's stock valued at $482,000 after buying an additional 154 shares during the period. Finally, Broadway Wealth Solutions Inc. lifted its holdings in shares of Meta Platforms by 6.3% in the 3rd quarter. Broadway Wealth Solutions Inc. now owns 1,051 shares of the social networking company's stock valued at $762,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

More Meta Platforms News

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta settled a teen lawsuit alleging that Instagram and Facebook contributed to addiction, depression and eating disorders. Financial terms were not disclosed, but the agreement removes Meta from an upcoming Los Angeles trial and reduces near-term litigation uncertainty. Reuters settlement report
• Positive Sentiment: Meta’s advertising fundamentals remain strong: recent coverage cited higher ad pricing, rising impressions, improved AI-driven ad conversions and strong engagement. Analysts also see meaningful upside, with one fair-value estimate raised from $813.65 to $848.38 per share. Meta fair value report
• Positive Sentiment: Meta expanded its relationship with Advanced Micro Devices, including a $1 billion equity investment and multi-generation chip co-design for Meta’s AI data centers. The deal may improve access to computing capacity and supplier diversification. AMD and Meta partnership report

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. CICC Research cut their price target on shares of Meta Platforms from $773.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Rothschild & Co Redburn upped their target price on shares of Meta Platforms from $900.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Morgan Stanley increased their target price on shares of Meta Platforms from $775.00 to $820.00 and gave the company an "overweight" rating in a report on Monday, October 19th. BNP Paribas Exane reduced their price target on shares of Meta Platforms from $955.00 to $855.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Finally, Yorkville Ives initiated coverage on shares of Meta Platforms in a research report on Tuesday, October 6th. They set an "outperform" rating and a $900.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $833.12.

Insider Buying and Selling

In related news, CAO Aaron Anderson sold 3,240 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $618.06, for a total value of $2,002,514.40. Following the transaction, the chief accounting officer owned 6,271 shares in the company, valued at approximately $3,875,854.26. This trade represents a 34.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Andrew Bosworth sold 7,848 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total transaction of $4,379,184.00. Following the sale, the chief technology officer owned 828 shares of the company's stock, valued at approximately $462,024. This represents a 90.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 150,015 shares of company stock worth $102,464,300. Corporate insiders own 13.53% of the company's stock.

Meta Platforms Price Performance

META opened at $614.99 on Friday. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $779.82. The company's 50 day simple moving average is $670.03 and its 200 day simple moving average is $632.26. The stock has a market capitalization of $1.57 trillion, a PE ratio of 20.97, a P/E/G ratio of 1.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.90 and a current ratio of 1.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, topping analysts' consensus estimates of $6.54 by $0.86. The company had revenue of $64.60 billion for the quarter, compared to the consensus estimate of $63.34 billion. Meta Platforms had a net margin of 31.15% and a return on equity of 30.73%. Meta Platforms's revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted $7.25 earnings per share. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 29.01 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were paid a dividend of $0.5250 per share. The ex-dividend date was Monday, September 21st. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio is currently 7.16%.

About Meta Platforms

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company's principal platforms include Facebook, Instagram, Messenger, WhatsApp, and Threads, which enable users to connect, communicate, share content, and discover products and services.

Meta also operates Reality Labs, its division focused on virtual, augmented, and mixed reality technologies. Reality Labs develops products such as Meta Quest virtual reality headsets and related software and experiences, along with research and hardware intended to support immersive computing.

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